Penton Media Acquires Farm Progress Portfolio for $79.9 Million
November 13, 2012
New York-based Penton Media made a big buy recently, scooping up the Farm Progress portfolio from Fairfax Media Limited of Sydney, Australia, for $79.9 million.
This buy significantly expands Penton Media’s agriculture information business portfolio that includes live events, digital products, data, marketing services and publications.
The Farm Progress buy includes four farm trade events, including the nation’s largest outdoor farm show, a robust broadcast division and several media brands.
The shows include Farm Progress Show, Hay Expo, Husker Harvest Days and New York Farm Show.
“Our investment is supported by several inarguable global economic trends including rising demand for nutrition, limited arable land and water, and strong export potential for agriculture products, capital equipment and related production technology into developing countries,” said Penton CEO David Kieselstein.
He added, “The world looks to the U.S. as the center of innovation in agri-science, which gives Penton a unique opportunity to help this industry grow both domestically and internationally.”
The acquisition supports Penton’s strategy of expanding the company’s presence in high-growth sectors, as well as the Farm Progress buy more than doubled Penton’s agriculture portfolio.
The acquisition also connects Penton to nearly 75 percent of the 2.2 million farms and ranches in the US and an estimated 85 percent of the nation’s annual agricultural gross domestic product.
In addition, Farm Progress produces 18 state and regional farm publications, as well as online content and programming for the radio, TV and Web.
“We’ve always had tremendous respect and admiration for Farm Progress and its products. We also have a clear, strategic commitment to grow our agricultural information business, and Farm Progress perfectly supports that goal,” Kieselstein said.
He added, ““Farm Progress is a high quality company – the team has delivered excellent organic revenue and EBITDA growth. Moreover, this business fits with Penton’s heightened focus on properties that have high levels of user engagement. The fact that Farm Progress events attract more than 200,000 attendees from across the agriculture community every year is a prime example of that value.”
Farm Progress will remain hedquarterd in St. Charles, Ill., and become part of the Penton Agricultural Group reporting to Penton Senior Vice President Dan Bagan.
Jeff Lapin, president of Farm Progress, will leave the company at the end of the year.
Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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